Shenzhen Government & HTC kicks off 10B RMB VR Fund

On the morning of Nov. 18th, Beijing Time, HTC announced their partnership with Shenzhen Government and the kick off two initiatives.

Firstly, a brand new Chinese VR Research Institute will be established. HTC will corporate with this institute to develop sensors, display devises, as well as techniques such as graphic/data visualization and human-computer interaction. With talents from enterprises, high schools, research institutes and investment organizations united together to tackle challenges, the institute is striving for breakthroughs and will stimulate the ecosystem development in Shenzhen. The technical results will then be implemented in various fields including health care, military, engineering, design and manufacture.  

Also, with the assistance of Shenzhen Industry Capital Leading Funds, the Shenzhen VR Investment Fund was set up as well. With over 10 billion RMB as initial capital (about 1.5 billion USD), the fund will support a number of companies to speed up the VR industry development in China.

ShenZhen Government and HTC sign off the 10B RMB VR Fund on Nov.18 2016
Cher Wang, Chairwomen and Co-Founder of HTC expressed in the prepared statement that the center’s “multiple research centers” and “investment funds” will accelarate the VR industry development in Shenzhen and enhance the city’s research and development capability.

These are just two recent initiatives from HTC for its steady development. A year ago, the company has already independently kicked off the Vive X Accelarator program to provide guidance and work space for startups and seek potential investment opportunity at the same time. Later, they corporated with investment firms and set up the VR Venture Capital Alliance (VRVCA) to further review the financing plans of these startups. Recently, the company assisted the establishment of Industry of Virtual Reality Alliance in China as well, hoping to unite the enterprises and solve the industry problems 

Known as the Chinese Sillcon Valley, Shenzhen is a globally-renowned electronic components production base with vibrant hardware entreupreneurial acitivities. For instance, the well known Chinese UAV company DJI settled its headquarter in Shenzhen. And it is reported that Shenzhen’s factories has delivered over 10 milion Cardboard type VR devices per month in 2016, most of them were shipped overseas.

Author: vrinchinaadmin

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